INSEAD Day 4 - 728x90

Economy

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

Asian stocks mostly up after US tech rally

Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...

ECB to cut rates again amid bleak eurozone outlook

The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...

Geostrategy

Saudi Arabia, UAE key partners in Indonesia’s growth

The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting...
  • The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting the 17th G20 Heads of State and Government Summit
  • Since 1976, the Kingdom, through the Saudi Fund for Development has contributed to strengthening the pillars of sustainable development in its various fields and forms in Indonesia
Economy

US wholesale price inflation slows in October

US wholesale prices continued to rise in October but at a slower pace than in the prior month, according to...
  • The producer price index in US rose just 0.2 percent compared to September, the Labor Department reported.
  • Annual PPI in the US slowed to 8 percent in October, the data showed, down from 8.5 percent in the prior month.
Business

Walmart posts Q3 loss of $1.8bn

Settlement on opioid cases hit earnings of the firm.
  • The opioid crisis in the US - causing over 500,000 deaths over 20 years - triggered a flurry of lawsuits against drugmakers, distributors and pharmacies.
  • US pharmacy chains CVS Health and Walgreens similarly reached preliminary agreements this month to pay more than a total of $10 billion to resolve opioid claims.
Business

Amanat 9M growth at 6%

Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.
  • Adjusted total income grew 17 percent to $28.9 million in 9M-2022.
  • Adjusted EBITDA grew 19 percent to $29.8 million (AED110.1 million) in 9M-2022.
Business

Wio Bank, ADGM sign pact

Pact will help SMEs in UAE gain access to key banking services.
  • With this pact, Wio will extend its Wio Business platform to SMEs registered with ADGM and provide them with fast-tracked application submission.
  • Presently, AGDM supports over 330 SMEs in health tech, pure tech, Edtech, legal tech, food tech, tourism tech, and insurance tech.
Business

TECOM Group to pay dividend

Firm approved interim dividend payment of US$54m.
  • The approved US$54 million (AED200 million) cash distribution is in line with the Group’s previously announced dividend policy of distributing $217 million annually.
  • All matters related to future dividend distribution will be subject to Board of Director’s recommendation and shareholders’ approval.
Economy

EU to shore up Tunisia economy with US$100m grant

In order to shore up its economy battered by the Covid pandemic and political turmoil, the EU has signed off...
  • Tunisia relies heavily on imported wheat and natural gas, whose prices have shot up since Russia's invasion of its neighbor in February
  • The grant comes as Tunisia awaits a loan deal with the International Monetary Fund (IMF), and the EU said its aid money was "part of the approved reforms" to finalize the deal
Geostrategy

Russia under pressure as G20 tackles Ukraine war, soaring food prices

Eyeing a joint G20 declaration that would condemn Russia's eight-month-old invasion and threats to use nuclear weapons, US and European...
  • There was a hint at growing Chinese unease with Russia's prosecution of the war when presidents Xi Jinping and Joe Biden met late Monday
  • Both men voiced opposition to the "use or threat of use" of nuclear weapons in Ukraine, according to a White House account of the meeting
Economy

GCC adopts tourism strategy, launches new platform

The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism as well as strategic partnerships between the...
  • The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism, as well as strategic partnerships between the GCC and other countries and parties
  • The development comes a couple of days after the launch of the UAE Tourism Strategy 2031 that comes under the ‘Projects of the 50'
Geostrategy

UAE urges global efforts for trade at B20 Summit in Indonesia

BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...
  • The UAE is working to help the global economy overcome current and future challenges.
  • The economy of the future will be based on knowledge and innovation.

Asian stocks mostly up after US tech rally

Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...

Company News

Latest News

Dubai approves $67bn budget to stimulate economic recovery

Dubai, UAE - Dubai government's general budget for the fiscal cycle of 2024-2026 includes total expenditures of $67.16 billion (AED...
Economy

Stocks extend global rally as US jobs data cements rate hopes

Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
Market Report

UAE issue guidelines on unlicensed virtual asset service providers

Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC)...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Expat remittances in Saudi Arabia fall to $2.6bn in September

RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
  • On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million.
  • Remittances by Saudi nationals to other countries also fell 11 percent YoY to US$1.2 billion in September.
Business

Saudi Arabia launches second phase of Visiting Investor Visa

RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
  • This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
  • The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Interview

Diversification remains crucial for oil-rich nations

Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
  • Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
  • She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development